Cheap Insurance for a Jeep Wrangler in New Mexico

Our editors keep telling us that when writing about car insurance, the words “affordable” or “cheap” shouldn’t be used anywhere in the article to describe car insurance prices. Excuse the oxymoron, but cheap auto insurance for a Jeep Wrangler can be hard, if not impossible, to find. But don’t let us ruin your dream, because there may be ways you can find and buy coverage that is easy on your budget.

Your ability to find cheap auto insurance for a Jeep Wrangler in New Mexico relies on a pretty complex algorithm that uses a lot of factors such as whether you own a home, what you do for a living, and any driving offenses on your record. New Mexico drivers on average pay approximately $770 every 12 months to buy insurance for a Jeep Wrangler, but that price is an estimate based on cost data for a 30-year-old married female driver who purchased both comprehensive and collision coverage and $1,000 physical damage deductibles.

But there is a high probability that you’re not a 30-year-old female, single instead of married, or you need different physical damage deductibles. Changing even a minor factor in input factors can generate big changes in the cost of coverage for a Jeep Wrangler.

Every driver has a different risk profile, so the most reliable way to find cheap insurance rates for your Jeep is to make a habit of regularly comparing rates from other companies. Price quotes are quick and you will receive price comparisons from the best companies that insure vehicles in New Mexico.

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Your vehicle’s trim level will be a contributing factor to price, so the rate you pay to insure a Wrangler Sport 4WD 2-Dr will cost $194 less than the price to insure the more costly Wrangler Unlimited Rubicon 4WD 4-Dr version, as shown in the table below.

Prices above based on married female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and New Mexico minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Information does not factor in vehicle location which can lower or raise coverage rates considerably.

Finding budget car insurance is not the easiest thing to accomplish, and figuring out which company has the most affordable insurance rates for a Jeep Wrangler requires a little more work. Every insurance provider uses a different method to determine premium rates, so we’ll take a look at the insurance companies that tend to be cheaper in New Mexico.

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USAA may have some of the most affordable car insurance rates in New Mexico at around $657 a year. Allied, Safeco, Farm Bureau Mutual, and Farmers also make the cut as some of the cheapest New Mexico car insurance companies.

In the above example, if you are currently insured with Allied and switched to USAA, you may see a yearly savings of in the vicinity of $291. Policyholders with Safeco might save as much as $357 a year, and Farm Bureau Mutual policyholders might lower prices by $557 a year.

To get a fast rate comparison, click here to get quotes or visit several of the following companies.

Remember that these premiums are averages across all types of insureds and vehicles and do not take into consideration a specific rate factor for a Jeep Wrangler. So the auto insurance company that is most affordable for your situation may not even be featured in the list of companies shown earlier. That point stresses why you need to get rate quotes from many companies using your own individual information.

Discount New Mexico auto insurance rates

Car insurance companies that offer cheap insurance for a Jeep Wrangler in New Mexico may also offer special discounts that could reduce prices by 40% or more if you are eligible to receive them. A list of insurance companies and a partial list of their discounts are:

The chart below illustrates the comparison of insurance costs with and without discounts applied to the premium. The data assumes a male driver, a clean driving record, no at-fault accidents, New Mexico state minimum liability limits, full coverage, and $500 deductibles.

The first bar for each age group shows the average annual price with no discounts. The second shows the rates with defensive driving course, multiple policy, marriage, homeowner, accident-free, and claim-free discounts applied. When drivers qualify for the discounts, the the average amount saved on insurance for a Jeep Wrangler is 13% or $251.

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Full coverage rates compared to liability-only

Finding cheap insurance for a Jeep Wrangler in New Mexico is the goal of most vehicle owners, and one of the best ways to save on the cost of insurance is to only pay for liability coverage. The chart below visualizes the comparison of insurance costs with liability coverage only compared to full coverage. Data assumes no claims or violations, $250 deductibles, drivers are not married, and no additional discounts are factored in.

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Averaged for all ages 20 through 70, full coverage costs $1,829 per year over liability only. That raises the question if you should buy full coverage at all. There is no clear-cut formula of when to drop comprehensive and collision coverage on your policy, but there is a general convention. If the annual cost of your full coverage insurance is about 10% or more of the vehicle’s replacement cost less your deductible, then it may be the right time to buy liability only.

For example, let’s say your vehicle’s settlement value is $6,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $5,000 after you pay the deductible. If premium cost is more than $500 a year for physical damage coverage, then you may need to consider dropping full coverage.

How to find low-cost insurance for a Jeep Wrangler

Below you’ll find some of the better thrifty solutions that can help New Mexico drivers locate low-cost coverage.

• Staying accident-free helps keep rates low
• Get cheaper liability coverage by choosing a safer vehicle
• If possible, do not file small claims
• Multi-policy discounts save money
• Be a cautious driver
• Shop around for lower rates once a year

The last tip is incredibly necessary, as we discussed in this article. Insurance prices can change in a short period of time, so don’t be unwilling to switch carriers if a more affordable rate is found. Many drivers prefer to stick with one company, but we do not recommend it if that dedication is costing a fortune every year. It only take a few minutes to shop around and find cheaper car insurance for a Jeep Wrangler.

Is the best company Progressive, Allstate, State Farm, or Geico?

When it comes to buying insurance for a Wrangler in New Mexico, four good companies to start with are Progressive, Allstate, State Farm, and Geico. If you combine them together, they insure nearly half of all auto insurance written. The table below compares ratings and policy coverage options that are available for customers.